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Senior Financial Billing Analyst
3 months ago
Stikeman Elliott, a prominent corporate law firm in Canada, is on the lookout for a meticulous and proactive Senior Billing and Rates Analyst to enhance our dynamic team. This position plays a crucial role in collaborating with legal professionals and management to ensure precise billing, effective rate management, and streamlined accounts receivable processes, all while fostering process enhancements and supporting informed financial decisions.
Key Responsibilities:
Billing Functions:
Cultivate relationships with Lawyers and Legal Administrative Assistants (LAAs) to gain insights into their practices and billing cycles, facilitating the preparation and issuance of accurate and timely Client invoices in line with firm policies and Outside Counsel Guidelines (OCGs). Proactively engage with Lawyers to review aged Work in Progress (WIP) and provide clarity on billing timelines. Assist the Manager in liaising with Lawyers to achieve monthly billing objectives. Support the Manager in addressing billing inquiries and resolving disputes or discrepancies. Respond to inquiries from Clients and Lawyers regarding invoices, providing resolutions to billing issues and coordinating necessary adjustments. Offer prompt assistance to resolve eBilling rejections and stay informed on eBilling guidelines to ensure compliance.Rate Management:
Aid in managing billing rate agreement renewals and billing requirements for new clients and matters. Ensure consistency in rate structures across the firm. Collaborate with Management and Senior Financial Analysts to formulate strategic recommendations for rate adjustments based on financial performance, ensuring competitiveness and alignment with market trends.Accounts Receivable & Cash Management:
Oversee accounts receivable aging and lead collection efforts for overdue accounts in collaboration with Finance Committee, Management, Lawyers, LAAs, and Clients. Review and prepare write-offs and refunds in accordance with firm policies. Maintain accurate records of collection activities and their status. Assist in the accurate and timely application of cash receipts, ensuring proper allocation to Client accounts. Investigate and resolve discrepancies in cash applications and follow up on unapplied cash receipts weekly.Reporting and Analytical Functions:
Generate aged accounts receivable reports and analyses for Management. Prepare quarterly WIP and accounts receivable files for distribution to Lawyers, LAAs, and Management, tracking and following up on responses for write-offs. Prepare monthly WIP accruals for Clients and upload to eBilling platforms as required. Provide insights and recommendations based on billing, rates, WIP, and accounts receivable data to support financial modeling and decision-making. Assist the Manager with ad-hoc reporting and analytical tasks as needed.System and Process Enhancement:
Identify opportunities and recommend process improvements to boost efficiency and accuracy in billing and accounts receivable functions. Implement best practices and standard operating procedures (SOPs) to streamline workflows and minimize errors. Support system implementations, upgrades, and enhancements related to billing, rates, and accounts receivable functions. Advocate for the adoption of new technologies and share knowledge/training with other firm members.Qualifications:
Bachelor's degree in Accounting, Finance, Business Administration, or a related field is preferred. A minimum of 3 years of proven experience in full cycle billing, rates management, accounts receivable, and cash applications, ideally within a law firm or professional services environment. Strong understanding of legal billing practices and rate management. Demonstrated success in driving process improvements and implementing system enhancements in billing and accounts receivable functions. Advanced proficiency in Excel (e.g., pivot tables, xlookups, sumifs, etc.) is an asset. Experience with legal accounting software such as Aderant is preferred. Strong critical thinking and exceptional communication skills, both written and verbal, with the ability to effectively collaborate with internal and external stakeholders. Ability to quickly identify problems and provide effective solutions. A team player who takes initiative and works well independently. Capacity to take on new tasks and make sound decisions to support the Manager with ad-hoc requests, issues, and escalations. Detail-oriented with strong organizational skills and the ability to prioritize tasks and meet deadlines in a fast-paced environment.Note: Stikeman Elliott is committed to accommodating individuals with disabilities as part of our hiring process. If you have special requirements, please inform Human Resources during the recruitment process.